What is the main difference between joint tenancy and tenancy in common?

What is the main difference between joint tenancy and tenancy in common?

• A. Joint tenancy includes the right of survivorship
• B. Tenancy in common has no provisions for inheriting shares
• C. Joint tenancy allows for multiple owners
• D. Tenancy in common requires equal ownership percentages

Answer: (A)

The primary distinction between joint tenancy and tenancy in common lies in the right of survivorship that is integral to joint tenancy. In joint tenancy, when one owner passes away, their share automatically transfers to the surviving joint tenants rather than being passed on through a will or the laws of intestacy. This feature is significant because it simplifies the transfer of property ownership upon death and helps ensure that the property remains consolidated among the surviving owners. In contrast, tenancy in common does not include this right of survivorship. Each co-owner can will their share to any party, which may result in new individuals becoming part owners of the property upon the death of a co-tenant. This fundamental feature of joint tenancy’s right of survivorship differentiates it from tenancy in common, making option A the correct choice.

The primary distinction between joint tenancy and tenancy in common lies in the right of survivorship that is integral to joint tenancy. In joint tenancy, when one owner passes away, their share automatically transfers to the surviving joint tenants rather than being passed on through a will or the laws of intestacy. This feature is significant because it simplifies the transfer of property ownership upon death and helps ensure that the property remains consolidated among the surviving owners.

In contrast, tenancy in common does not include this right of survivorship. Each co-owner can will their share to any party, which may result in new individuals becoming part owners of the property upon the death of a co-tenant. This fundamental feature of joint tenancy’s right of survivorship differentiates it from tenancy in common, making option A the correct choice.